Since both of them are vehicles for Peterhouse and both are headed up by frontmen.....what about Peterhouse using PIRI to bring NEW back to the market and instantly letting PRS get its lost £250k back? They'd be doing their mate Colin Bird and TIR a favour too. Course they'd need permission from the owners of NEW's $4.8m first but from what I hear that shouldn't be to difficult to get.
Under the Takeover Code, a shareholder (together with its concert parties) who acquires an interest in 30% or more of the target's securities (or increases such interest between 30% and 50%) would ordinarily be required to make a mandatory bid for the target. However, a Rule 9 whitewash (under which shareholder approval is given to the proposed acquisition of shares) may be sought which obviates the need for a mandatory bid. The Panel is proposing that the circular to shareholders seeking approval should specifically note that the potential new controller will not be restricted from making an offer for the target company following approval of the Rule 9 whitewash (unless it has entered into a standstill agreement with the company or has made a statement that it does not intend to make an offer, in which case full details of the agreement or statement should be disclosed).
Strange market today. MMs hiked the bid price so someone wants to buy, and so far MMs haven't dragged out too many sellers probably due to the 4.25p attached warrants that run to 2018. Be interesting to see what happens over the next few days.
The facts are simple...PIRI has a nice wedge of cash and they have a deal lined up. If its fantastic then quite simply this multibags from here considerably... If its not then it doesn't multibag. You pays your money and you take your chance. This is what AIM is all about. PIRI at 3p is certainly not a sell.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.